“Apple and Tesla shares are attempting to reverse the downside momentum in both stocks since coming off their April highs,” Robert Moreno writes for TheStreet.”
“Each stock has returned to an important individual level of Fibonacci support on their daily charts,” Moreno writes. “The integrity of these support lines will be a key factor in determining the direction of these stocks over the intermediate term.”
“Apple shares are trying to repeat the hold-and-base process,” Moreno writes. “Another cluster of long tail candles have formed at support, and the relative strength index and the money flow index have now moved into complimentary oversold conditions.”
Much more in the full article here.
MacDailyNews Take: We’re not big on technical analysis, but we’re looking forward to WWDC announcements, for sure. Next quarter’s guidance will also be of intense interest for AAPL shareholder.
As always, Wall Street wants to see growth (or at least growth potential). That (or the lack thereof) is what moves share prices.
Sure, with the right leadership.
Hey, One Note Joe – why not go away and buy an Androcrap or Winblows phone?
Mr. Vice President, your bitterness is understandable.
Oh, well… there you go… the Fibonacci support.
That Fiber is something all these bear bloggers need to put in their collective diets; they are all full of crap. And they are bloggers, not writers or journalists.
That so called “technical analysis” is meaningless drivel. These people get paid to come up with this vapid stuff in the hope that some fool out there is going to be impressed and maybe pay for company advice to manage their money.
But ya know, a fool and his money are soon parted. It’s the way of the world. So be careful out there.
I suspect you know nothing about Technical analysis…
Indeed, with the rise of automated trading, technical analysis is more important than ever.
What language was that guy speaking?
Really? I say both companies are doing great. Apples profit is over the top and Tesla sold 350.000 cars on display week. No other company can match that. And their customers love what they are doing. So I say – f*ck the Street. You produce and contribute nothing.
I wonder whether the decline in Mac sales means Mac users are drifting back to Windows. They could be just waiting for Apple to actually release a current spec machine, or they might have gotten tired of waiting.
If Apple loses its keenest users, their Mac users, will this spill over into iPad and iPhone users?
I think if I moved back to Windows I would probably leave the Apple ecosystem altogether. I’m a heavy duty computer user but a light phone user. My Mac Pro is powerful enough for the moment, but is a huge mess on my desktop with external raid array and lto tape drive, dvd reader, card reader, power and monitor cables. I resent both the loss of desk space and the mess, and it is more costly to buy external devices. My next computer will definitely be a tower: right now that means Wintel.
I don’t use my iPad to do anything much. An Android or Windiws tablet would almost certainly do what I need.
My iPhone 6 is fine. I like it except when Siri disconnects herself from the phone apps and can’t find maps or contacts or make calls. I never use the “integration” tools Continuity and Handoff – useless waste of time in my opinion.
Apple have abandoned serious users. We all have to run Office now, which means most of us have OneDrive which “just works” unlike iCloud which is useless for most projects because you can’t keep project files together, create hierarchies, or store non-Apple created files.
So watch those Mac numbers. If they continue to slide Apple is probably losing their most loyal fan base. When the Mac goes altogether that might be the beginning of the end for Apple.
Oh, and when did Apple last produce a good software application? I am thinking you have to go all the way back to the first iMovie, more than a dozen years ago.
Need to balance their attention between iOS and MacOS.. Too far in one direction right now..
The share price slump affecting all companies, this And pre warning of cause of US economy crash soon. As the major banks have exposure to the derivatives market of $250 Trillion yes that numbers correct and the Fed Reserve is proping these Banks collapse if they collapse. Great Depression will be small compared to this
A sliding stock price does not mean the company is in trouble. The stock will recover when Wall Street discovers that the sky did not fall after all. I think the prospects for both companies are excellent.
Time for true believers to buy more shares.. Seems as of today Market Cap for AAPL and GOOG is only separated by about $400M according to Bloomberg.com.